etsy
Etsy Inc. (NASDAQ:ETSY) announced Tuesday it expects to launch the road show for its initial public offering on April 1. The Brooklyn-based company plans to sell 16.7 million shares priced between $14 and $16 per share, the company said in its S1 filing with the Securities and Exchange Commission. Etsy

Etsy Inc., the Brooklyn-based e-commerce platform for handmade goods and vintage supplies, plans to launch a roadshow for its initial public offering on April 1, the company said in a statement late Tuesday. Etsy plans to sell 16.7 million shares priced between $14 and $16 each.

The high-end range indicates the offering could raise as much as $267 million, more than double the preliminary estimate the $100 million the company stated in a March 4 S-1 filing with the Securities and Exchange Commission. The new numbers place Etsy's market value in a range as high as $1.78 billion, based on the nearly 111 million shares outstanding. But some analysts expect the value could reach as high as $2 billion in the lead-up to the initial public offering, which would put the company on track for the largest stock market debut for a New York City technology company in 16 years.

The e-commerce startup was founded nearly a decade ago in Brooklyn, New York, as a marketplace for handmade goods and craft supplies. Since then, Etsy has built a platform on which 54 million members connect to sell and buy unique goods, including vintage and artisanal products. There were roughly 20 million active buyers on the Etsy marketplace and 1.4 million active sellers as of Dec. 31.

In 2014, Etsy sellers generated sales of $1.93 billion, up 43.3 percent from 2013. Just over 36 percent of sales last year were derived from purchases on mobile devices and 30 percent of sales came from a seller or buyer outside the U.S. Etsy generates revenue from fees it charges sellers who pay to list items and complete transactions.

Etsy will list its shares on Nasdaq under the ticker symbol “ETSY.” The underwriters for the IPO include Goldman Sachs and Morgan Stanley.